Summit State Bank (NASDAQ:SSBI) Stock Passes Above Two Hundred Day Moving Average – Time to Sell?

Summit State Bank (NASDAQ:SSBI) shares crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $12.55 and traded as high as $13.70. Summit State Bank shares last traded at $13.52, with a volume of 15,331 shares.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded Summit State Bank from a “sell (d+)” rating to a “hold (c)” rating in a report on Friday, March 27th. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company presently has a consensus rating of “Hold”.

Summit State Bank Trading Down 0.6%

The company has a fifty day simple moving average of $13.42 and a two-hundred day simple moving average of $12.57. The company has a market cap of $91.92 million, a PE ratio of 15.23 and a beta of 0.18.

Summit State Bank (NASDAQ:SSBI) last issued its quarterly earnings results on Tuesday, April 28th. The bank reported $0.25 earnings per share for the quarter. The company had revenue of $10.06 million for the quarter.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in SSBI. Renaissance Technologies LLC purchased a new position in shares of Summit State Bank in the 4th quarter valued at about $144,000. Wealthspire Advisors LLC purchased a new position in shares of Summit State Bank in the 4th quarter valued at about $145,000. Susquehanna International Group LLP purchased a new position in shares of Summit State Bank in the 3rd quarter valued at about $166,000. Daytona Street Capital LLC purchased a new position in shares of Summit State Bank in the 4th quarter valued at about $571,000. Finally, Alliancebernstein L.P. purchased a new position in shares of Summit State Bank in the 3rd quarter valued at about $1,126,000.

About Summit State Bank

Summit State Bank (NASDAQ: SSBI) is a California-chartered commercial bank that provides a comprehensive suite of banking and financial services to business and professional clients, as well as individuals. The bank’s core business activities include commercial and industrial lending, commercial real estate financing, business deposit products, treasury management services, and consumer deposit accounts. Through these offerings, Summit State Bank aims to support the growth and operational needs of small- and mid-sized enterprises across its markets.

In addition to its commercial lending solutions, Summit State Bank offers private banking services tailored to high-net-worth individuals, including customized lending, wealth management referrals, and trust services.